US President Donald Trump thanks his predecessor Barack Obama for ‘beautiful’ Letter

Washington, Jan 23, 2017: Newly-inaugurated US President Donald Trump thanked his predecessor Barack Obama for a letter for him in the Oval Office but said he will not be divulging its contents to the media.

“I just went to the Oval Office and found this beautiful letter from President Obama,” Trump said on Sunday, addressing senior staff members before they were sworn-in.

“It was really very nice of him to do that and we will cherish that. We will keep that and we won’t even tell the press what’s in that letter.”

In the letter President George W. Bush left for Obama, Bush said there would be “trying moments” during his presidency and warned Obama that “critics will rage” and said your “‘friends’ will disappoint you”, The Hill magazine reported.

“But, you will have an Almighty God to comfort you, a family who loves you, and a country that is pulling for you, including me,” Bush wrote.

In the letter President Bill Clinton wrote to Bush in 2001, Clinton saluted and wished him “success and much happiness”.

“The burdens you now shoulder are great but often exaggerated. The sheer joy of doing what you believe is right is inexpressible,” Clinton wrote. (IANS)

Criticising the US President Donald Trump for his protectionists policies, Nobel Laureate Paul Krugman on Saturday accused President Trump of not taking his jobs seriously. Following the protectisists measures taken by the US President, there could be “risks of disruptive trade war”, he said.

President Donald Trump is heavily criticised. Wikimedia Commons

“He does not take the job seriously. He doesn’t say to himself that I am the most important official in the world; I have better do my homework for understanding the issue. ..He just goes that these are my gut feeling and hires people who make him feel good…that is a frightening prospect,” Krugman said responding to a query on his perception on Trump. On the economic issues President Trump’s gut feelings are “protectionist” and his views of America were “50 years out of date”.

“He wants America a heavy industrial country in the way it was when he was a young man. That is not just going to happen but he attempts to make it happen, which is extremely disruptive to America and to the global as a whole,” Nobel Laureate said. Krugman said he was until recently optimistic that Trump’s protectionist policies would not see the light of the day.

“Until about two weeks ago, I was quite optimistic that it would not happen. The reason was not because the President would get good economic advice but because the US businesses are invested in a globalised economy. All the investments the businesses have made is based upon the assumptions that the open trading system would continue. There is an enormous amount of fiscal capital and a large number of jobs are dependent on these value chains,” he said at the News18 Rising India Summit here.

Krugman further said: “I had assumed the influence of these business communities would be sufficient… that it would not happen. I am less optimistic now…we have seen reasonably sensible Economic Council Head was fired, completely irrational tariff (was) imposed on steel and aluminium.”

Krugman says these actions of President can cause a trade war. Wikimedia Commons

According to him, immediate issue is going to be confrontation not with China, but with Europe as the “steel tariffs” will hit Europe. He said there are possible risks of “disruptive global trade war”.

Speaking on Chinese economy he said, “China is a financial crisis waiting to happen. China is a widely unbalanced economy…the country is sustaining itself with a credit bubble that is waiting to burst…There is a significant risk of Chinese bubble burst.”